How planning and capital budgeting improve SME performance

This paper focuses on the use of strategic planning among small and medium sized enterprises (SMEs) in the UK manufacturing sector. It analyses the relationship between the intensity of strategic planning, business objectives, perceived performance, changes in the business environment and the use of capital budgeting techniques. Capital budgeting is of particular interest as an area of investigation, and is one which has seldom featured in previous studies of strategic planning behaviour. These issues were investigated via a survey of UK manufacturing SMEs carried out in the winter of 1996/97.

The key results suggest that SMEs incorporate a range of objectives into their strategic planning process, with profit improvement perceived to be the most important objective, followed by sales growth. SMEs engaged in detailed strategic planning are more likely to use formal capital budgeting techniques, including the net present value method, which is consistent with maximising the companys' value. Perceived profitability and success in achieving organisational objectives were positively associated with planning detail, suggesting that strategic planning is a key component improving performance. Planning detail was also associated with a significantly higher level of perceived change in the business environment.     

Evidence‐based Management in Practice: Opening up the Decision Process,Decision‐maker and Context

Evidence‐based management (EBM) has been subject to a number of persuasive critiques in recent years. Concerns have been raised that: EBM over‐privileges rationality as a basis for decision‐making; ‘scientific’ evidence is insufficient and incomplete as a basis for management practice; understanding of how EBM actually plays out in practice is limited; and, although ideas were originally taken from evidence‐based medicine, individual‐situated expertise has been forgotten in the transfer. To address these concerns, the authors adopted an approach of ‘opening up’ the decision process, the decision‐maker and the context (Langley et al. ( 1995 ). ‘Opening up decision making: the view from the black stool’, Organization Science, 6, pp. 260–279). The empirical investigation focuses on an EBM decision process involving an operations management problem in a hospital emergency department in Australia. Based on interview and archival research, it describes how an EBM decision process was enacted by a physician manager. It identifies the role of ‘fit’ between the decision‐maker and the organizational context in enabling an evidence‐based process and develops insights for EBM theory and practice.     

Aiming for Excellence: Reflections on the Advanced Institute of Management Research and its Elite

In 2002, the UK government launched the Advanced Institute of Management Research, a major initiative intended to raise the quality of research in business schools. Rather than offering research grants in open competition, AIM deliberately funded a select few leading lights in management. Insufficient allowance was made for the Research Assessment Exercise, which measured research excellence in terms of papers published in top journals. The AIM's elite exploited its existing publishing advantage, and AIM provided further resources to aid their efforts. The AIM recruited willing acolytes to work with its elite in fashioning the sort of papers required by the top journals of management – positive papers, consensual and endlessly citable. Analysis of the publishing patterns of AIM senior fellows reveals research cliques and publication silos rather than a network organization. Much as the elite saw its AIM funding as recognition of its own excellence, so AIM itself came to be seen as acknowledgement of the excellence of management research as a whole. That AIM existed to raise management research from intellectual poverty was forgotten. The AIM was wound up in 2012, having spent £30 million, most of it on the subject's elite. The problems that beset management research remain.     

Creating a Consensus: Psychologists, the Supreme Court, and School Desegregation, 1952–1955

SPSSI psychologists' involvement in the early civil rights movement in the postwar United States was epitomized by their involvement in the case of Brown v. Board of Education. This article examines how social scientists sought to maintain the persona of objective, scientific expert when asked to prepare briefs for the U.S. Supreme Court for the Brown case. The social scientists believed that only by collapsing what they saw as an artificial distinction between objectivity and advocacy could the social scientist become a social activist. This article is based on extensive research in numerous archives, including the papers of Gordon W. Allport, Kenneth B. Clark, Stuart W. Cook, David Krech, the National Association for the Advancement of Colored People, Theodore M. Newcomb, Robert Redfield, and the Society for the Psychological Study of Social Issues.     

THE USE OF CHILD-CENTERED PLAY THERAPY AND FILIAL THERAPY WITH HEAD START FAMILIES: A BRIEF REPORT

Play therapy and filial therapy show promise as effective ways to provide direct services to Head Start, addressing the needs of the children, the families, and the Head Start teachers and staff. This paper examines the utility of play and filial therapies for the Head Start population, presents a systemic explanation for the benefit of filial therapy, and provides a case example for illustration.     

ECONOMIC ACTIVITY IN THE SHADOW OF CONFLICT

Appropriation possibilities significantly alter economic fundamentals in a production and exchange economy. This is the primary lesson of our model, which combines Ricardian trade and the potential for predator/prey behavior. The model shows how conflict can be subdued by mutual gains from trade, but at a resource cost that modifies the exchange itself. On the other hand, it identifies conditions wherein appropriation incentives are so strong that specialized production and trade are precluded altogether. The model also reveals a new way to think about and measure the gains from trade. ( JEL C72, D51, D74, F10)